Vietnam's VinFast to raise $4B financing for EV plant from Credit Suisse, Citi

FILE PHOTO: Workers at Vinfast's auto plant on the occasion of its opening ceremony in Hai Phong city, Vietnam June 14, 2019. REUTERS/Kham

Vietnam carmaker VinFast has signed framework agreements with Credit Suisse (Singapore) Ltd and Citigroup Global Markets Inc. to raise at least $4 billion to develop an electric vehicle factory in North Carolina, the company said.

The announcement comes after its parent Vingroup JSC in May said that an initial public offering (IPO) for VinFast might be delayed until next year due to market uncertainty.

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